Suspend Enforcing the Instructions to Dealing in Cash

Following the Jordan Securities Commission’s Board of Commissioners decision to issue the Instructions to Dealing in Cash for the Year 2014 and upon the request of the following associations representatives: the Financial Services Companies Association FSCA, the Association of Capital Market Registered Persons ACMRP and the Securities Investors Association SIA, the Chairman of the Commission HE Mr Mohammed Saleh Hourani declared to hold a meeting to review these Instructions.

The Board of Commissioners held the meeting on April 7.2014 and listened to their opinions and suggestions for these Instructions. HE Mr Hourani clarified that issuing these Instructions is important to the following reasons:

1. To limit risks on Financial Brokerage Companies and on the market, in general.

2. To cope with international practices and international standards regulating the capital market.

3. To enhance the confidence in investing in the Jordanian market and to attract foreign investments.

HE Mr Hourani indicated that a Draft Project of the Instructions was previously published on the Commission’s website and the opinions and responses of companies and relevant entities were reviewed.

At the end of the meeting, it was agreed to form a small Committee consisting of representatives of the Jordan Securities Commission, the FSCA, the SIA and the ACMRP. The Committee shall be in charge of reviewing the Instructions to Dealing in Cash and to providing its recommendations within a maximum period of one month from the start of its meetings.

All entities agreed to suspend enforcing the Instructions to Dealing in Cash until the Committee concludes its businesses and provides its recommendations.